GableGotwals Advises Oklahoma Gas and Electric Co. in a Public Offering of 5.4% Senior Unsecured Notes

GableGotwals acted as local counsel to Oklahoma Gas and Electric Co., a utility generation, transmission and distribution company, in the issuance of $450 million in aggregate principal amount of 5.4% Senior Notes, Series due January 15, 2033.

J.P. Morgan , MUFG , and U.S. Bancorp acted as joint book-running managers and BofA Securities, KeyBanc Capital Markets, Morgan Stanley , PNC Capital Markets LLC, Scotiabank , and BOK Financial Securities Inc acted as co-managers, while GableGotwals and Husch Blackwell LLP acted as legal counsels to the company. Chapman and Cutler LLP acted as legal counsel to the underwriters in the public offering. The offering was completed on January 5, 2023.

The company intends to use the funds for general corporate purposes, including to help fund the repayment of its 0.553% Senior Notes, Series due May 26, 2023, and to fund its capital investment program and working capital needs.

The GableGotwals team was led by Jeff Haughey with assistance from Shareholders Jordan B. Edwards and Thomas J. Hutchison, associate Bailey S. Barnes, and paralegal Lana Phillips.